a private limited company has paid rent to its director for the office premises owned by the director. will sec.297 of the companies act apply?
3 Replies
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 28 September 2011
DCA has clarified that transactions in immovable properties are outside the ambit of section 297. REf : Sona steering case.
In fact, when i was a student it was avery popular question both in CS final / Inter (now names changed)
Regards,
DISHANT lodhi
(article assistente)
(198 Points)
Replied 28 September 2011
IT is not covered U/S-297 of comapny act
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